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minute solution that basically nobody likes. and certainly people who are in favor of smaller government, lower taxes are not going toto like because the president and senate democrats i think are running the show now. so they're going to put together a smaller fiscal cliff package, hope that they can win, you know the couple dozen republican house votes that they need and get this through. there's a bright side for politically bright side for republicans if that happens becae they, furer drive the contrast from the president. but it is typicalhe way we've seen them do business here in washington, you know, for past couple years and past couple decades really. melissa: steve what does that mean, a cobbled together solution look like? they raise taxes on everybody more than $250,000 and puteverything else indefinitely into the future. >> yes. i think they pause, they probably pause the sequester. they extend unemployment. i think there are things that the president has signaled are important to him, that he wants to gee done that will allow him to say, if he chooses to, if he wants to, to
fiscal cliff deal. meantime, treasury warns the government will hit its legal borrowing limit by monday. it's thursday, december 27th, 2012 and "squawk box" begins right now. >>> good morning and welcome to "squawk box" here on cnbc. i'm andrew ross sorkin along with joe kernen. becky continues to have the day off today. our guest host today is bob broska. house speaker john boehner urging the senate to come up with a passable fiscal cliff solution. he's promising to at least consider any bill that the upper chamber produces. senate majority leader harry reid now expected to base any legislation on a bill passed earlier this year to continue tax breaks for households will incomes below $250,000. a senate bill would likely contain an extension of expiring unemployment benefits. and the other big news of the morning, treasury secretary tim geithner unveiling a plan to buy time under the debt ceiling. in a letter to congress, geithner saying that treasury is going to begin taking steps this week to delay hitting the government's 16$16.4 trillion borrowing limit. treasury will tak
geithner has warned congress hat u.s. will reach its debt ceiling on monday. that is when the government reaches its legal borrowing limit. now, this could pose a bigger threat to the nation's credit rating than the fiscal cliff. treasury can keep the government operating for a few weeks using emergency measures, but congress needs to act on this too to avoid a full-blown debt crisis. alina cho. joins us with the ret of the top stories. >>> former president george h.w. bush remains in intensive care in a houston hospital with an elevated fever. he is on a liquid diet an his condition is listed as guarded. his spokesman quotes him as saying i'm determined not to be dprumpy with all of this. >>> toyota has agreed to pay up in a major way, $1.1 billion to settle a class action suit over sudden acceleration issues. under the deal toyota will install a brake override system in effective cars. it will also set up a fund of $250 million for former toyota owners who sold their cars from september of 2009 through all of 2010. that money would compensate owners for their car's reduced value becaus
, and will be for the economy in 2013. finally, did you see this amusing story? u.s. government is put on a negative watch by china? by china? the credit rating agency in china put them on the u.s. government debt on a negative rating at this point. negative watch. this, of course, was supposedly independent rating agency created in china to try to rival moody's and s&p and fitch's. that's getting interesting play out there. their independence, of course, greatly in question. guys, back to you. >> bob, get a lozenge, will you? >> sorry about that. >> let's head to the pits. good morning, rick. >> good morning, melissa lee. well, no surprise we're still hovering in the 170s in the ten-year. but maybe something interesting. you know, on the floor we call it the growth dividend. if you look at a chart for our ten-year starting on july 26th, and i pick july 26th because that was mario draghi's big day. he said anything it takes. as you look at our rates over that period, then look at the boon rates over that period. you can see that the growth/disparity, our yields are higher in that formation than boon yield
government bailout than meets the eye. liz macdonald tells us the white house is backing a plan to help out underwater mortgages and not just for government underwritten loans. shibani: let's take a look if you own these stocks on the nasdaq you are making money today. research in motion, netflix, a lot. dennis: the christmas movie box office cannot non-violent are rated westerns by quentin tarantino against a broadway musical based on a nineteenth century novel, was miserables and the musical won. universal's less miserables broken 18.one million dollar guarantees, tarantino break-in $15 million, the highest level christmas opening for and are rated film. elsewhere taylor swift is breaking up with stream music services. turn newest album read finished fifth week at number one but she refused to make it available on internet streaming services that the attendees her songs. other music acts may take notice. a great story in the wall street journal. an office building, number one times square, the bad news, it is mostly vacant. the good news is it brings in $23 million a year in ad revenue on
government tested toyota. they said it was floor mats or a sticky throttle or something like that and i believed the government. >> 7,000 miles later on the day after christmas. she said she was pulling into a parking spot at a local mall gently riding the brake, she says -- take a listen. . >> the car lurched forward and hit the cement wall in front of us. >> she strained ligaments in her foot causing massive swelling. the dealer insisted she call the toyota contain lawyer. >> and you won't drive this again? >> i will not. >> toyota has never conceded that there was a problem. but drew found a document that is written in japanese and english translation that shows one instance what antwonic software problem was discovered. toyota says this has nothing to do with unintended acceleration. other experts disagree. drew griffin is here. first a big settlement earlier this month and now this. >> from the beginning the company maintained it doesn't have a problem. certainly nothing wrong with the electronic throttle control system. the company said it was three things. stuck gas pedals, stuck
, no progress whatsoever. and in fact, the treasury department said that the government on monday will hit the limit of how much money we can borrow to run the government. they're going to do some extraordinary measures to keep us running to february. but things look grim. the one sliver of good news i can say on the substance is, the speaker's office tells me this morning there has been contact between the speaker of the house and the president, at least on the staff level. and they won't say whether or not the two men actually spoke. >> contact. hazahs all around. what do we really mean? >> reporter: everybody will see their taxes go up. here's three examples. you have a teacher with two kids making $43,000 a year. taxes will go up by $3,000. a member of congress, they make $174,000 a year. their taxes will go up just next year, $7,500. and lebron james, the guy made about $53 million last year. his taxes, just next year, would go up $2.4 million. >> ouch. >> reporter: poor lebron. >> indeed. we say it's five days away. but the idea is, we can't get this done if they reach a deal 15 minu
's when the government reaches its legal borrowing limit. treasury can delay a debt crisis for a couple of weeks until february or march using emergency measures to keep the government operating until congress acts to fix this problem, too. >>> big news from toyota. they are announcing a record $1.1 billion settlement over that unintended accelerator issue which they say does not exist. toyota has always said it's been floor malts, stuck gas pedals and operator error but they're going to settle these cases to put it behind them. the bulk of the money will go to its customers past and present. they will install brake override systems for all vehicles identified by toyota as having a problem with the floor mats getting stuck. toyota set aside $250 million to compensate owners who sold their cars while their sales were plummeting over the bad p.r. and a separate 250 million will be used to compensate owners who don't qualify for that brake override system. finally, all 16 million current toyota owners will be eligible for a warranty on certain parts related to sudden unintended acceleratio
to be the police chief accuses the government of carrying out massacres of innocent civilians and he says the military is nothing but armed gangs that kill. he says is he defecting to, quote, join the people's revolution. and the recovery in the housing market remains on pace. home prices rose 4.3% in october over last year, that is it the biggest percentage increase in more than two years. near record low mortgage rates and fewer foreclosures are helping spur sale which is in turn is boosting prices. and the world's longest high speed rail line is up and running and it's in, where else, china. the 1428 mile line spans more than half the country linking the capital of beijing to the southern chinese bloom city. trains will run at 186 miles per hour. >>> and civil rights icon nelson mandela has been discharged from a south africa hospital. 94-year-old former president will continue treatment at his home. he was hospitalized with a lung infection on december 8th. one week later, he had surgery to remove gallstones. i'm sure everyone's pleased to hear that he's doing well. >> thanks so much
Search Results 0 to 8 of about 9

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